ECB and Brazil Team Up on Instant Payment Link

The European Central Bank and Brazil's central bank are exploring a possible connection between Pix and TIPS, Europe's instant payment platform.

The goal is to enable Brazilians to settle payments at retail terminals in Europe using funds held in their domestic bank accounts.

According to an ECB document cited by Folha de S. Paulo, both sides are targeting an operational pilot for June 2028, provided the talks continue to progress.

The negotiations involve nine internal departments from Brazil's central bank, which are responsible for setting governance rules and testing whether the two payment systems can work together.